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Life comes full of unexpected events- both good and bad. With Life Insurance you can ensure your family’s financial security after you pass away. You should consider having a life insurance policy if:

• you are married
• have children
• have a mortgage or any other loans that would need to be paid off upon your death.
• Don’t forget that the average funeral expenses vary greatly from state to state and from year to year, will your family be able to afford the $15,000-$25,000 funeral cost?

What type of Life Insurance should I get? There are many different types of insurance products but the right one for you depends on your own personal situation. Contact one (link here for contact) of our Financial Representatives for a personal consultation.

• Term Life Insurance- Provides coverage for a limited period of time. After that period, or term, the policy can be cancelled or renewed annually by paying increasing premiums to continue the coverage. Term insurance is often the most inexpensive way to purchase a substantial death benefit as the policy builds no cash value. If the insured dies during the term, the death benefit will be paid to the beneficiary.
  
  
• Whole Life Insurance- A policy with level premium payments that are higher than traditional term insurance contracts. These contracts are designed to last the “whole life” of the insured and offer a "cash value". These policies usually credit interest to the cash value account and upon maturity of the contract (usually at age 95 or 100), the cash value equals the death benefit.
  
  
• Universal Life Insurance- A policy that offers permanent life insurance based on a cash value. These contracts can be designed to have limited pay features with guaranteed coverage that extends beyond the premium paying years. The cash value is credited each month with interest that is usually tied into a rate index.
  
  
• Variable Universal Life Insurance- A policy that offers permanent life insurance based on a cash value. The cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner.

• Disability Income Insurance- How would you pay for your living expenses if you became unable to work? A disability income insurance policy insures the beneficiary's earned income against the risk that disability will make working (and therefore earning) impossible.
  
  
• Long Term Care Insurance- Helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. Remember that age is not a determining factor in needing long-term care.

Personal property such as your home, cars, boats, and other valuables would be hard to replace in case of a total loss. These policies renew every six or twelve months and should be reviewed to ensure you are covered for what you need. Contact one (link here for contact) of our Property and Casualty Representatives for a personal consultation.

• Home Insurance- A type of property insurance that covers private homes. Mortgage lenders always require that the buyer purchase homeowners insurance as a condition of the loan, in order to protect the bank if the home were to be destroyed. It is an insurance policy that combines various personal protections, which can include losses occurring to one's home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home. Typically, claims due to earthquakes, floods, "Acts of God", or war (whose definition typically includes a nuclear explosion from any source) are excluded. Special insurance can be purchased for these possibilities, including flood insurance and earthquake insurance.
  
  
• Auto Insurance- Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. It is required in the state of Connecticut.
  
  
• Renters Insurance- A type of policy that covers the contents inside a rental property. If you rent your home or apartment and you should have renters insurance to protect your valuables.
  
  
• Motorcycle Insurance- Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. It is required in the state of Connecticut.
  
  
• Umbrella Insurance- Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of your homeowner's, auto, and boat insurance policies. Provides coverage for claims that may be excluded by other liability policies including: False arrest, Libel, Slander, Invasion of Privacy, among others.
  
  
• Flood Insurance- This policy protects you in case of floods. However, there are many restrictions on what qualifies as flood damage and it may take 30 days before the policy is in effect- don’t wait until a storm is approaching.